Chennai sources have stated that government will present its maiden budget on March 16. Governor Vidya Sagar Raohas fixed March 23 as the date to present the vote on account for the next fiscal year to the legislative assembly, while final supplementary estimates for the current fiscal will also be presented the same day, according to a statement issued by assembly secretary AMP Jamaludeen.
Sources have stated that senior minister D Jayakumar, who was given the finance portfolio, last week, will present the budget. After three or four days of budget discussion, the house will take up a debate on demands for grants for each of the departments for close to a month. The budget has raised expectations given the overall outstanding debt of the state estimated to be Rs 2.52 lakh crore by the end of this fiscal, a 40% jump from 2014-15.
Meanwhile the state government
has said the implementation of many new schemes, such as the waiver of
agricultural loans of small and marginal farmers owed to cooperative
institutions and free power of up to 100 units for domestic consumers and
continuance of various welfare schemes, have increased the expenditure of the
state. The revenue deficit for the ongoing fiscal has been estimated at Rs
It was stated that the Palaniswami government has its task cut out due to the strains in finances. In his maiden visit to New Delhi after assuming charge as chief minister, Palaniswami requested PM Modi to release the pending dues of Rs 17,333 crore in the central schemes and highlighted the adverse treatment meted out to the state by the 14th finance commission.